The Role of Big Data in Promoting Green Development: Based on the Quasi-Natural Experiment of the Big Data Experimental Zone

Against the backdrop of the pressing issue of global warming, the concept of green development, which emphasizes the rational utilization of resources and energy, has emerged as a viable model for future economic growth. Despite this, the interplay between big data technology and green development has yet to receive due consideration. This study aims to shed light on the role of big data in green development from the perspective of factor configuration distortion. To this end, a panel data analysis of 284 prefecture-level cities spanning from 2007 to 2020 was conducted, utilizing the Difference-in-Differences (DID) and Propensity Score Matching-Difference-in-Differences (PSM-DID) models to assess the impact of the establishment of the National Big Data Comprehensive Experimental Zone on green total factor productivity. The findings reveal that the establishment of the National Big Data Comprehensive Experimental Zone has a positive impact on green total factor productivity, primarily through optimizing the capital and labor allocation distortions, with the effect being more pronounced in areas with high levels of human capital, financial development, and economic activity. This research provides empirical evidence to evaluate the impact of the establishment of the National Big Data Comprehensive Experimental Zone and offers valuable policy implications for the pursuit of high-quality economic development.